The impact of the budget has begun to fall on the commodity market. The prices of the products on which the duty has been imposed are already rising. Apart from this, there is no announcement of duty exemption on imported products including oil, sugar and pulses.
In the proposed budget for the next 2021-22 fiscal year, tariffs have been increased on a number of imported products including carrots, tomatoes and oranges to encourage domestic production. In this case, a new 20 percent duty has been imposed on imported carrots and turnips. The duty on mushrooms has been increased from 5 to 15 percent. The supplementary duty on imported soap has been increased from 25 per cent to 45 per cent. In addition, the minimum tariff price of tomatoes, green chillies, capsicum and oranges has been proposed in the budget.
The prices of these products have already started rising. Looking around the market last Monday, it is seen that China carrots are being sold at 110 to 130 rupees per kg. But even a week ago, carrots could be found at 60 to 70 rupees. Tomato prices are also rising. 40 to 50 rupees tomatoes are not going below 60 rupees now. Although these domestic vegetables are available in the market, the demand for imported ones is higher in terms of quality. As these are both winter vegetables, the sellers have said that they are now relying heavily on imports.
If you want to know the owner of the Jamuna store in the caravan market. Dipu told Kaler Kantha that after the end of the season in the country, some vegetables including carrots, tomatoes and green chillies come from India, China, Thailand and other countries. After the government increased the import duty, the price of 10 kg carrot packet has increased by 100 rupees. The price of imported vegetables is increasing and so is the price of domestic vegetables.
Although the price of imported canned mushrooms has not gone up yet, it is learned that the suppliers have already indicated that the price will go up. They also said that when new products come, they have to be bought at higher prices.
The orange market is still 80 to 90 percent dependent on imports. Therefore, the price of oranges is rising on the news of fixing the minimum tariff on oranges. Oranges are being sold at 300 to 350 rupees per kg in fruit shops including super shops in different markets; Even a few days ago, the price was 20-30 rupees less per kg.
Sirajul Islam, general secretary of the Fresh Fruit Importers Association, told Kaler Kanth, “After the budget proposal, the tariff on our orange (orange and Malta) imports has been increased by 10 cents. Now when you go to unload goods, you have to pay 50 cents per kg instead of 40 cents. This has increased our cost to over Rs 160 per carton (15 kg). But the country’s fruit market is still 85 percent import dependent. People’s vitamin needs are being met with imported fruits. However, the trader claimed that they did not increase the price even though the import cost increased. “The demand for oranges and malt is low due to the mango season,” he said. As a result, buyers are not buying at higher prices even though the cost of imports has increased, so they have to sell at a loss.
The budget does not discuss any tariff or VAT exemption on imports to curb the price of oil, sugar and pulses. However, the Ministry of Commerce itself had for a long time applied for the withdrawal of three-point VAT and tax to reduce the prices of these daily commodities. As there is no discussion in the budget in this regard, the prices of these products have been going up since last week. Editors of edible oils say that VAT has to be paid once on oil-sugar imports, then on refined sales and on retail sales after packing. In addition, there are tariffs. With the increase in prices, the tax rate is also increasing. Because VAT on these products is based on the price per ton.
When asked, CAB President Golam Rahman told Kaler Kanth that it was necessary to keep the prices within reach by giving duty exemption on essential products like oil and sugar. As the purchasing power of the consumers decreases, the price pressure of these products is falling on them at a huge rate. The result has been a frustrating budget for consumers.